*Market Outlook*

Key index weekly charts now give bearish signals – the correction gathers momentum.

Next S&P500 target is 1222 but that won't hold.

Unfortunately March 2009 lows will be breached.

Be careful folks.

stockmarket618.wordpress.com

if you add the chillis with the asafoetida powder as the olive oil starts to smoke, on high heat, then you can let the flames give that smokey edge to the favour as you tip the pan over the flame just enough.......oh, wait, hang on .......not with the grande le soup a cycle needing to be stirred first....ah, cooking elliott is so cabernet, wouldnt you say?

More poetry please, Joules

Mr. Charts said:

More poetry please, Joules

Click to expand...

rofl......couldnt help that one.....

if you trade long enough you'll see everything ......repeated!

USD SHOWS FURTHER STRENGTH AS EURUSD ROLLS OVER.
Bring on the overdue dollar rally ...

EURUSD downtrend and USD uptrend continues.

Key equity index weekly charts give bearish signals as the choppy correction gains momentum.
S&P500 target is 1222 but that won't hold.
Unfortunately the March 2009 lows will be breached.

stockmarket618.wordpress.com

It took a while... but USD rally has started and significant upside is expected.

S&P500 VERY BEARISH WARNING - http://bit.ly/jC0Sau - http://bit.ly/j79lD5

Since DOW/SP500 is now EXTREMELY overbought, the reaction next week should result in a significant retracement.

S&P500 daily charts show updated rising wedge and possible head and shoulders pattern with target of 1150 when confirmed. Recent aggressive buying and short covering is revealed by very bullish candles.

http://stockmarket618.wordpress.com

DOW/SP500/FTSE/DAX still indicate impending retracement.
DOW futs last 12,502

we are not indicating heading north, in fact we are heading north and what is more interesting is that the move is not impending, rather, it is in motion

Dow futes currently 12650(ish)

A quick 'blind' study

Keen to see how this plays out under the auspices of triangle theory......does look very bearish.....should not be confused with wolf waves

a wide, very wide, stop for this and short x 2 to gain maximum profit

lets see how we go over the next few days or even weeks.....back down to the low(er) sloping line to retake the low


You could say the recovery has gone too far too fast. The normal course would be to place a stop on top of the leading edge of the triangle and at the high of the highest daily bar, but, of course, there is no way to clearly know that that high wont be taken out so may have to allow some wriggle room. How much wriggle is hard to call, right now.